Press release
Hydrogen Sensor Market in East Asia to Reach US$ 121 Million by 2034, Expanding at 6.8% CAGR
Countries in East Asia are focusing on developing a hydrogen economy. This has led to the increasing use of hydrogen as a renewable and clean energy source for several applications, including industrial processes, vehicles, power generation, and others. The rising use of hydrogen is predicted to generate requirements for sensors for the detection of leakages and monitoring of hydrogen concentrations for safety reasons.
Hydrogen is highly flammable and is capable of posing some safety risks in case of leakage. With constant efforts by governments and industries to adopt hydrogen, an increase in the demand for reliable sensors is experienced to ensure the safety of systems.
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Market Drivers
Hydrogen Economy Initiatives: Countries like China, Japan, and South Korea are investing heavily in hydrogen infrastructure, including production, storage, and distribution facilities. This expansion necessitates reliable hydrogen sensors to ensure safety and efficiency across the supply chain.
Safety Concerns: Hydrogen is highly flammable, and its leaks can pose significant risks. The need for early detection systems to prevent accidents is propelling the demand for advanced hydrogen sensors.
Technological Advancements: Innovations in sensor technologies, such as the development of portable and more sensitive detectors, are making hydrogen sensors more accessible and efficient, further driving market growth.
Country-Specific Insights
China: With a market value projected to reach US$ 70.4 million by 2034, China is leading the region, thanks to its substantial investments in hydrogen fuel cell vehicles and infrastructure.
Japan: Japan's focus on clean energy and its plans to become a "hydrogen society" are contributing to a steady growth in the hydrogen sensor market.
South Korea: South Korea's initiatives to adopt hydrogen as a primary energy source are also fostering the demand for hydrogen sensors.
Market Segmentation
The market is segmented based on sensor types, including electrochemical, metal-oxide semiconductors, thermal conductivity, and catalytic sensors. Portable hydrogen sensors hold a significant market share, accounting for over 73% in 2024, due to their ease of use and applicability in various settings.
Key Players
Prominent companies in the East Asian hydrogen sensor market include:
Figaro Engineering Inc.
RIKEN KEIKI Co., Ltd.
FIS
NanoAndMore Asia
City Technology
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Future Outlook
The hydrogen sensor market in East Asia is expected to continue its upward trajectory, supported by governmental policies, technological advancements, and the growing emphasis on clean energy. As the hydrogen economy expands, the role of hydrogen sensors will become increasingly critical in ensuring the safe and efficient use of hydrogen across various applications.
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